Camargo Correa covets Loma Negra

Published:
08 November 2004

The Brazilian Camargo Correa is negotiating the acquisition of Loma Negra - the largest cement manufacturer of Argentina. Camargo Correa did not confirm the negotiations but a source of the company said the main problem to conclude the transaction would be the company’s price, of up to US$1bil.Other prospect bidders for Loma are the Brazilian Votorantim, the Portuguese Cimpor and the French Lafarge. Loma currently holds 50 per cent of the Argentine cement market and is followed by Minetti (Holcim) with 30 per cent. Camargo Correa has a production capacity of 5.5Mta in the country.